The Fasteners Market in Italy

The Fasteners Market in Italy

The Fasteners Market in Italy

The Overview

Italy’s manufacturing sector is the second largest in the eurozone after Germany and sixth in the world, based on measurements of Manufacturing Value Added. It is the world’s eighth largest exporter, with EU countries accounting for nearly two-thirds of its trade.

Machinery & electrical equipment and semi-finished products account for more than half of manufacturing revenues, with other consumer goods, transport equipment and high-tech products also significant.

The value of Made in Italy-branded products has seen significant growth to US$205 billion.

Manufacturing in Italy is expected to receive a boost from the Industrial National Plan 4.0 for 2017-20 unveiled in 2016 by the Ministry of Economic Development. This foresees transforming the sector by merging digital technology and conventional industry, promoting private investment through government incentives and stimulating research & development.

FACTORS DEFINING ITALY’S FASTENERS MARKET

Analysts forecast annual growth rates in the global fasteners market of up to 6% by 2020, to reach a total varying between €77 billion and €91 billion. In 2015 the global market was worth around €65.7 billion, while that in Europe was valued at some €14.8 billion.

Demand for fasteners in Italy in 2015 was 11.6% of the total for Europe, making it the continent’s third largest market after Germany and France.*

Automotive, aerospace, manufacturing industry and construction are the leading market drivers worldwide.

European imports of fasteners were valued at €11.5 billion in 2014; 63% were from within Europe, with Italy one of the six leading importing countries. Taiwan is the largest supplier from outside Europe. Growth of up to 2% is expected over the next few years.

Following steady growth since 2010, the value of European fastener exports in 2014 reached €11 billion, with Italy in second position after Germany with 13% of output.

Fastener exports from Europe to developing economies are expected to grow from 18% to 20% over the next few years; Italy ranks third within Europe in this segment.

Around one quarter of fastener manufacturing globally is undertaken in Europe in a sector valued at €10 billion in 2013; Italy accounts for around 20% of this, ranking it the second largest producer.

Principal markets in Italy for fasteners include machinery, automotive, aerospace, other transport, domestic goods and appliances and construction.

*Sources: CBI Market Intelligence and The Freedonia Group

A record-breaking year for the Italian machine tool industry. UCIMU-Sistemi per Produrre predicts a stable 2019

2018 has been a record-breaking year for the Italian industry - manufacturing machine tools, robots and automation systems have registered double-digit increases in all of its economic indicators. With a 13.4% growth compared to the previous year, production grew to 6.9 million euros, which represented the fifth consecutive year of growth for the country.

Thanks to the excellent performance of Italian manufacturers in the domestic market, that increased by 21.1%, and the positive trend in exports, that rose by 7.2%, Italy strengthened its role in the international markets, where it stood out also in the Industry/Enterprise 4.0 programmes.

UCIMU's president predicts a stable 2019, confirming the 2018 performances and the prospects of enjoying a positive trend in exports.